SHARES STRONGLY UP/DOWN this week 26/12/05 (Master RSI)

FINANCIAL TIMES
The Lex Column:
*Banking downturn - 2005 will be celebrated as a vintage year for merger and acquisitions. Trading volumes and equity markets have revived while the fixed income boom has continued beyond all expectations. From such an elevated peak, the only way is down.

The Lombard Column:
*How to interpret Christmas updates. Next (NXT.L) is the first retailer scheduled to issue its trading statement, though poor performers may have to bring their announcements forward

Further news:
*Hilton (HG.L) puts the finishing touches on the $6.2bn sale of its hotels business to Hilton Hotels Corporation of the US.

THE TIMES
Patrick Hosking:
*Jo Malins was fined for insider trading, and now the LSE has to decide whether he is suitable to remain on the boards of three public companies.

Further news:
*Persimmon (PSN.L) faces shareholder revolt after the NAPF urged investors to vote against an incentive plan that could see four directors net up to £10m in shares.
*Brit fashion label Jaeger unveils its first profits since its takeover by Harold Tillman, and is on track for a further significant rise this financial year ahead of a possible flotation late next year

DAILY TELEGRAPH
*Pendragon (PDG.L) extends its offer for smaller rival Reg Vardy (VDY.L) to 18th Jan, and has received acceptances from 28.3pc of shareholders
*Victoria Oil & Gas (VOG.L) - raises £13.1m through a share placing which was two and a half times over subscribed
*Old Mutual (OML.L) - A secretive hedge fund shows its hand in Skandia takeover battle.
*Marks & Spencer (MKS.L) - CEO Stuart Rose is sitting on a potential profit of £1.7m from his shares and options in the company.

Further news:
*Sales of new cars have tumbled at their fastest rate for more than 11 years as private car buyers have been deserting forecourts in their thousands this year

THE GUARDIAN
*Rank Group (RNK.L) - some returns for shareholders as the group agrees to sell its film processing business in a £433m deal.
*Monstermob (MOB.L) - snaps up Russia's leading ringtone provider, Mobicon, in a £15.6m deal.
*AstraZeneca (AZN.L) - pays £170m to US drug company Targacept for Alzheimer's drug.

THE INDEPENDENT
The Outlook Column:
*Duds, gaffes, scandal, foul language and inspirational leadership. 2005 was the year that had it all.

Further news:
*Up to 3,000 people working in the City will bag bonuses of at least £1m each this bonus season.
*Richard Causey, former chief accounting officer at Enron turns against former bosses
*Rank (RNK.L) completes break-up with £430m sale of Deluxe Film arm

DAILY MAIL
*House prices rose for the first time in 18 months during December as consumers became more confident in the market, according to new figures released yesterday.
*Winter sales fever has hit the internet after the biggest ever online Christmas with cyberstores taking £2.5bn in December

DAILY EXPRESS
*Staffordshire Magistrates' courts pilot text scheme a success. Texts which read "Pay up or get locked up" were sent to offenders who had defaulted on fines.